Halifax (HRM) Residential Market Statistic Update For Week of August 2nd to August 9th 2012
(Previous weeks numbers in brackets)
New Listings: 436 (459, 434, 441, 508)
Sold: 120 (126, 162, 209, 185)
Sale to List Ratio: 28% (28%, 37%, 47%, 36%)
Expired/Cancelled/Withdrawn: 105 (206, 70, 191, 82)
Active Single Family Home: 2981 (2958, 2979, 2931, 2959)
Average Single Family Home List Price: $289,389 ($298,974, $277,209, $288,808, $308,187)
Average Single Family Home Selling Price: $282,448 ($292,142, $271,132, $281,603, $299,219)
Average Days on Market Single Family Home: 76 (94, 93, 81, 72)
Active Condos: 265 (260, 260, 259, 276)
Average Condo Listing Price: $267,268 ($240,071, $198,147, $222,643, $230,070)
Average Condo Selling Price: $259,100 ($232,169, $192,370, $216,906, $224,458)
Average Days on Market Condos: 50 (49, 50, 37, 64)
*Halifax/Dartmouth Absorption Rate (weeks): 31.5 (28.1, 27.1, 25.8, 26.2)
This week is the first time since I have been actively tracking the absorption rate that it hit over 30 weeks. Looks like the down swing to the end of summer continues...
Canada Mortgage and Housing Corporation
August 09, 2012 08:15 ET
"HALIFAX, NOVA SCOTIA--(Marketwire - Aug. 9, 2012) - New residential construction in Halifax decreased last month compared to July 2011, according to preliminary data1 released today by Canada Mortgage and Housing Corporation (CMHC). There were 150 housing starts recorded in July compared to 378 last year.
"New home construction activity in Halifax was supported by an increase in single-detached starts last month," said Tim Andrews, market analyst with CMHC's Atlantic Business Centre. "Singles starts increased for the fourth consecutive month, climbing ten per cent in July to 107 units," added Andrews. "Multiple starts at 43 units, were substantially lower in July 2012 compared to the 281 units recorded a year ago."
In urban centres across Canada, total housing starts recorded in July were down two per cent to 16,876 units compared to 17,230 a year ago. Single-detached starts decreased eight per cent to 6,315 units, while multiple starts increased two per cent to 10,561 units in July. In the Atlantic region, 890 new units were started compared to 1,409 during July 2011.
As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.
For more information, visit www.cmhc.ca or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at CMHC Housing Market Information."
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Jeremiah Wallace, CD
Jeremiah has been involved with many aspects of the Real Estate industry for over twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
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